Despite being nearly twice the price, the Tesla Model Y outsold the Toyota Corolla in Q1. For the first time in history, an all-electric vehicle, specifically the Model Y, has become the world’s best-selling vehicle.
Tesla Model Y outsold
According to Jato Dynamics analyst data (published by Motor1), the Model Y has surpassed Toyota’s RAV4 and Corolla models to take the top spot in global sales rankings in the first quarter of 2023.
That’s especially impressive given that the 2023 Model Y starts at $47,490, which is significantly more than the Corolla ($21,550) and RAV4 ($27,575).
According to Jato Dynamics, the Tesla Model Y sold 267,200 units worldwide in Q1, compared to 256,400 Corolla and 214,700 RAV4 units sold during the same period.
That’s a 69 percent year-on-year increase for the Model Y, which will no doubt please Tesla’s meme-lord CEO, Elon Musk.
Musk was confident in the Model Y’s success even before it was released, estimating in 2016 that demand would be “in the 500k to 1 million unit per year level.”
While this is a significant achievement for Tesla, the Model Y’s victory isn’t particularly surprising. The company does’nt provide a sales breakdown, but it did report that over 400,000 Model Y and Model 3 vehicles were delivered to customers in the first quarter of 2023.
Electric vehicle development by competing automakers is also slow, allowing to maintain its EV market dominance.
And, in recent years, Tesla has frequently reduced the price of the majority of its lineup, including the Model Y, which may have contributed to the increase in sales.
While the Tesla EV is currently the world’s best-selling vehicle, the company is far from the largest global automaker. By comparison, Volkswagen, Toyota, General Motors, and Ford all report higher revenue and unit sales.
According to Car Logos, Tesla does not even rank among the top ten largest global car manufacturers, falling to 19th place in 2022.
Musk has previously predicted that the Model Y would claim the top spot, telling investors in 2021: “We think Model Y will be the best selling car or vehicle of any kind in the world. Probably next year. I’m not 100 percent certain next year, but I think it’s quite likely… more likely than not, that 2022 Model Y is best selling car or truck… in the world.”
It did not achieve that goal, but it did place third in the overall global rankings for 2022, breaking into the top ten bestselling cars in America, despite stiff competition from trucks and full-size SUVs.
It also became the best-selling vehicle in Europe and California, as well as the fourth best-selling vehicle in China, jumping 15 places from the previous year. Despite China’s crackdown on Tesla ownership and numerous recalls due to safety concerns.
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